Calumet (NASDAQ:CLMT) Shares Up 11.2% – Still a Buy?

Calumet, Inc. (NASDAQ:CLMT)’s share price rose 11.2% on Friday . The company traded as high as $28.70 and last traded at $28.8850. Approximately 666,511 shares traded hands during trading, a decline of 50% from the average daily volume of 1,334,811 shares. The stock had previously closed at $25.98.

Analyst Ratings Changes

CLMT has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Calumet in a report on Monday, December 29th. Wall Street Zen lowered Calumet from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. UBS Group reiterated a “neutral” rating and issued a $26.00 target price on shares of Calumet in a report on Friday. The Goldman Sachs Group raised their price target on shares of Calumet from $20.00 to $24.00 and gave the company a “buy” rating in a report on Friday, January 30th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Calumet in a research report on Thursday, January 29th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $22.83.

Calumet Stock Up 10.1%

The firm has a market cap of $2.48 billion, a PE ratio of -66.53 and a beta of 1.24. The stock has a 50 day moving average price of $21.25 and a two-hundred day moving average price of $18.98.

Institutional Investors Weigh In On Calumet

A number of large investors have recently made changes to their positions in CLMT. Global Retirement Partners LLC purchased a new position in Calumet in the 4th quarter worth $34,000. Amalgamated Bank acquired a new position in shares of Calumet in the second quarter valued at about $37,000. Covestor Ltd raised its stake in shares of Calumet by 29.1% in the fourth quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 492 shares during the last quarter. University of Texas Texas AM Investment Management Co. lifted its holdings in shares of Calumet by 109.4% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 3,350 shares of the oil and gas company’s stock worth $53,000 after purchasing an additional 1,750 shares during the period. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Calumet during the third quarter worth about $56,000. 34.41% of the stock is owned by hedge funds and other institutional investors.

Calumet Company Profile

Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) is an independent provider of high-value, essential product solutions derived from both petroleum and renewable feedstocks. The company operates an integrated network of manufacturing plants, blending terminals and storage facilities across North America, delivering customized products and technical services to industrial, automotive, consumer and agricultural end markets. By leveraging its scale and technical expertise, Calumet tailors supply chain and formulation solutions to meet stringent regulatory and performance requirements.

Calumet’s product portfolio includes specialty lubricants and base oils for high-performance applications; process oils and waxes for food-grade, cosmetic and packaging uses; industrial solvents and cleaning solutions; and fuel additives designed to optimize engine performance and emissions.